There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on Xylem (XYL) and TC Energy (TRP) with bullish sentiments.
Xylem (XYL)
RBC Capital analyst Deane Dray maintained a Buy rating on Xylem on September 10 and set a price target of $88.00. The company’s shares closed last Friday at $84.55, close to its 52-week high of $89.34.
According to TipRanks.com, Dray is a 4-star analyst with an average return of 4.1% and a 53.9% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Atkore International Group, Emerson Electric Company, and Honeywell International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xylem with a $79.43 average price target.
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TC Energy (TRP)
RBC Capital analyst Robert Kwan maintained a Buy rating on TC Energy on September 11 and set a price target of C$81.00. The company’s shares closed last Friday at $45.81.
According to TipRanks.com, Kwan is a 5-star analyst with an average return of 11.0% and a 71.1% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Fortis.
Currently, the analyst consensus on TC Energy is a Strong Buy with an average price target of $55.28, which is a 21.0% upside from current levels. In a report issued on September 1, CIBC also maintained a Buy rating on the stock with a C$73.00 price target.
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